Rizobacter Argentina S.A. — Annual Report 2019

Jan 30, 2020

RIZOBACTER INDIA PRIVATE LIMITED CIN : U74999HR2016PTC065822 UNAUDITED BALANCE SHEET AS ON 30th JUNE, 2019

	(Figures in INR)	(Figures in INR)
PARTICULARS NOTE NO.	Amount as at 30-06-2019
EQUITY AND LIABILITIES Shareholders Funds Share Capital 2 Reserves And Surplus 3 Non- Current Liabilities FDI Refundable Current Liabilities Trade Creditors Other Current Liabilities 4 Total Rs. ASSETS Fixed Assets 5 Other Non-Current Assets Deferred Tax Asset 6 Curent Assets Trade Receivables Cash & Bank Balances 7 Short-term Loan & Advances 8 Total Rs. Significant accounting policies and notes 1 to accounts	6,897,740.00 (6,526,991.14)	370,748.86 192.62 - 29,025.00
		399,966.48
		2,633.00 43,848.00 - 34,119.46 319,366.02
		399,966.48
		-

RIZOBACTER INDIA PRIVATE LIMITED CIN : U74999HR2016PTC065822 UNAUDITED STATEMENT OF PROFIT AND LOSS

FOR THE YEAR ENDED 30th JUNE, 2019

FOR THE YEAR ENDED 30th JUNE,	2019
		(Figures in INR)
PARTICULARS NOTE NO.		Year Ended 30-06-2019
INCOME Revenue From Operations Total Rs. EXPENSES Employees benefit expenses 9 Finance Cost 10 Other Expenses 11 Depreciation 5 Total Rs. Profit / (Loss) Before Tax Tax Expense Current Tax Earlier Year Taxes Deferred Tax Asset/(Liability) Profit/(Loss) during the period Total Rs. Significant accounting policies and notes 1 to accounts	- - -	-
		-
		1,656,000.00 50,805.75 1,117,100.36 2,689.00
		2,826,595.11
		(2,826,595.11) -
		(2,826,595.11)

RIZOBACTER INDIA PRIVATE LIMITED CIN : U74999HR2016PTC065822

1. Significant Accounting Policies & Notes on Accounts for the Year Ended 30th June, 2019

1.1 Corporate Information

The Company is a Private Limited Company domiciled and was incorporated in India on 19/09/2016. Its regsitered office is located at Plot No. 8, Sector-32 Institutional Area, Urban Estate Gurgaon Gurgaon HR 122001.

It is a Wholly Owned Subsidiary of an Argentina Based Company named Rizobacter Argentina S.A.

The Business of this company is Procurement of Bio-Organic Liquid Enoculents and other items used in growing crops, from the Parent Company, Argentina, who is a manufacturer of these items, and supply them to such wholesalors who will eventually supply to the farmers.

The Issued/Subscribed/Allotted Share Capital held as Equity by Rizobacter Argentina SA has been increased during the period through the Foreign Direct Investments(FDI) received by the Company. Where the reporting to Reserve Bank of India(RBI) has been completed of the remittances so received during the year, that FDI has been allotted & added to the corpus. And those amounts for which the reporting is under process(if any), they have been seperately stated as Application Money.

Refer to Note 2 for detailed bifurcation.

1.2 Basis of Preparation of Financial Statements

The financial statements are prepared under historical cost convention on a going concern basis and in accordance with the applicable

accounting standards prescribed in the Companies (Accounting Standards) Rules 2006 issued by the central government in consultation

with the National Advisory Commitee on Accounting Standards and relevant Provisions of the Companies Act, 2013.

The financial statements expressed in Indian Rupees, are prepared in accordance with the historical cost convention, except as disclosed in the accounting policies below :

The Company follows the mercantile system of accounting and recognises income and expenditure on accural basis to the extend measurable and where there is certanity of ultimate relaization in respect of Incomes.

1.3 Cash and Cash Equivalents

Cash and cash equivalents comprise cash in hand and cash at bank which are subject to an insignificant risk of changes in value. Cash equivalents are stated at amount at which they are convertible in cash

1.4 Use of Estimates

The preparation of financial statements require the management to make estimates & exceptions that affect the reported balances of assets & liabilities and disclosures relating to the Contingent Liability as at the date of financial statments and reported amounts of income & expenses during the period. Example of such estimates include provision for income taxes, the useful lives of fixed assets and intagible assets. Contigencies are recorded when it is provable that a liability will be incurred and the amount can be reasonlly estimated. Actual results could differ from such estimates.

1.5 Fixed Assets & Depreciation

All fixed assets are stated at cost less depreciation. Cost includes purchase price and all other attributable cost of bringing the assets to working conditions for intended use.

Currently, The Company has not Acquired any Fixed Assets.

1.6 Current anf Non- Current classifications

All assets and liabilities are classified into current and non-current.

Assets

An asset is classified as current when it satisfies any of the following criteria

a) it is expected to be realised in, or is intended for sale or consumption in the company's normal operating cycles.

b) it is held primairly for the purpose of being traded.

c) It is expected to be realised with in twelve months after the reporting date : or

d) It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability

RIZOBACTER INDIA PRIVATE LIMITED CIN : U74999HR2016PTC065822

1. Significant Accounting Policies & Notes on Accounts for the Year Ended 30th June, 2019

for at least 12 month after the reporting date. All other assets are classified as non-curernt.

Liabilities

a) It is expected to be settled in the company's normal operating cycle.

b) it is held primairly for the purpose of being traded.

c) It is due to be settled twelve months after the reporting date. All other Liabilities are classified as non-curernt.

1.7 Investments

Trade Investments are the investments made to enhance the company's Business interest. Investmensts are either classified as current or long term investments based on Management's intention at the time of purchase. Long term investments are carried out at cost. Current investment are valued at the lower of cost and fair value of individual scripts

1.8 Revenue Recognition

Currently, the company is in the process of planning, for commencement of Business.

1.9 Foreign Curreny Transactions

Foreign Curency Transactions are recognised at the exchange rate prevailing on the date of transactions.

1.10 Provision for Taxation

Income Tax comprises current tax (i.e. amount of tax for the period determined in accordance with the income tax law) & deferred tax (reflecting the tax effects of timing differences between accounting income and taxable income for the year). Deferred tax assets &

1.11 Provisions and contingencies

A provision is created when there is a present obligations as a result of a past event that entails probable outflow of resources and a reliable estimate can be made of the amount of the obligation. Disclosure of a contingent liability is made when there is a possible but not probable obligation or a present obligation that may, but probably will not, entail an outflow of resources. When there is an obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

RIZOBACTER INDIA PRIVATE LIMITED

NOTE : 5 : FIXED ASSETS

CIN : U74999HR2016PTC065822

							(Figures in INR)
PARTICULARS		G	ADDITIONS SALES AMOUNT AS AT 30-06-19 DURING THE YEAR R O S S B L O C K		D E P R E C I A T I O N		N E T B L O C K
	AMOUNT AS AT 01-07-18			AMOUNT AS ADJUSTMENTS AMOUNT AS AT 01-07-18 DURING AT 30-06-19 THE YEAR		WDV AS WDV AS AT 30-06-19 AT 30-06-18
Tangible Assets Mobile Total Rs. PREVIOUS YEAR	7,999.00		- - 7,999.00	2,677.00 2,689.00 - 5,366.00		2,633.00 5,322.00
	7,999.00		- - 7,999.00	2,677.00 2,689.00 - 5,366.00		2,633.00 5,322.00
						5,322.00
	-		7,999.00 - 7,999.00	- 2,677.00 - 2,677.00

RIZOBACTER INDIA PRIVATE LIMITED CIN : U74999HR2016PTC065822

Significant Accounting Policies & Notes on Accounts for the Year Ended 30th June, 2019

			(Figures in INR)
Note PARTICULARS No.			Amount as at 30-06-2019
SHAREHOLDERS FUNDS 2 Share Capital Authorised 700000 Equity Shares of Rs. 10/- each (p.y.: 50000 Equity Shares of Rs. 10/- each) Issued, Subscribed & Paid Up Equity Opening 323112 Equity Shares of Rs. 10/- each Additions during the Period 366662 Equity Shares of Rs. 10/- each Closing Share Capital 689774 Equity Shares of Rs. 10/- each SHARE CAPITAL Share Application money pending Allotment		3,231,120.00 3,666,620.00 Total Rs.	7,000,000.00
			7,000,000.00
			6,897,740.00
			6,897,740.00
			-
	Shareholders holding more than 1% Shares
	Name of Shareholder	No. of Shares held As at 30th	% of Holding June 2019
	Rizobacter Argentina S.A.	689,773	99.99%
3 Reserve & Surplus Profit and Loss A/C At the Beginning of the accounting period Profit/(Loss) during the year At the end of the accounting period CURRENT LIABILITIES 4 Other Current Liabilities Auditor remuneration payable Other Payable		Total Rs. Total Rs.	(3,700,396.03) (2,826,595.11)
			(6,526,991.14)
			25,000.00 4,025.00
			29,025.00

RIZOBACTER INDIA PRIVATE LIMITED CIN : U74999HR2016PTC065822

Significant Accounting Policies & Notes on Accounts for the Year Ended 30th June, 2019

	(Figures in INR)
Note PARTICULARS No.	Amount as at 30-06-2019
NON-CURRENT ASSETS 6 Deferred Tax Assets /(Liability) (Net) Opening Balance Deferred tax assets on account of Add:_Pre-Incorporation Expenses _Add/(Less): DTA/(DTL) Net deferred tax assets CURRENT ASSETS 7 Cash and Cash Equivalents Cash-in-hand Bank Account(IDBI Bank) Total Rs. 8 Short-term Loan & Advances Advances Recoverable in cash or in Kind Advance to Suppliers Total Rs.	43,848.00 -
	43,848.00
	20,104.00 14,015.46
	34,119.46
	57,203.02 262,163.00
	319,366.02

RIZOBACTER INDIA PRIVATE LIMITED CIN : U74999HR2016PTC065822

Significant Accounting Policies & Notes on Accounts for the Year Ended 30th June, 2019

			(Figures in INR)
NOTE NO.	PARTICULARS		Year Ended 30-06-2019
9 10 11	Employees benefit expenses Director's Remuneration Finance Cost Bank Charges Other Expenses Business Promotion Conveyance Exibition Exp Fuel Expenses Marketing Expenses Printing and Stationary Sampling Expense Telephone Bill Travelling Expenses: - Domestic - International Misc Exp Professional Charges Auditors Remuneration : - Statutory Audit Fees Total Rs.	Total Rs. Total Rs. 281,934.00 -	1,656,000.00
			1,656,000.00
			50,805.75
			50,805.75
			158,356.00 75,060.00 19,956.00 121,346.00 163,233.00 25,370.00 25,000.00 866.36 281,934.00 21,066.00 199,913.00 25,000.00
			1,117,100.36